Dec 6, 2012 2:00am PST
of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >> tracie potts for us in washington.
Dec 5, 2012 2:00am PST
. well, elsewhere president obama could name his choices for two top cabinet posts in the next two weeks. one of those jobs may very well go to a republican. senior administration sources say former nebraska senator chuck hagel is on the short list for defense secretary. hagel met with the president this week. he's thought to be one of four finalists on a list that includes massachusetts senator john kerry, kerry is also being mentioned as a possible successor to secretary of state hillary clinton if president obama doesn't pick u.n. ambassador susan rice. >>> elsewhere, president obama has drawn a hard line on tax increases for the wealthiest of americans. rejecting an offer that republicans claim is as good as it's going to get. tracie potts joins us with the latest on this. good morning. >> reporter: right now it's looking more likely that we could, could, go over that fiscal cliff at the end of the month because right now, negotiations here are at a stand still. president obama talks to the business round table today after telling bloomberg he absolutely won't bunch. the wealthiest a